Quarterly report pursuant to Section 13 or 15(d)

Condensed Consolidated Statements of Cash Flows (Unaudited)

v3.19.2
Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
6 Months Ended
Jun. 30, 2019
Jun. 30, 2018
CASH FLOWS FROM OPERATING ACTIVITIES    
Net loss $ (380) $ (3,272)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:    
Depreciation and amortization 102 70
Non-cash lease expense 337  
Gain on the sale of fixed assets (40)
Gain on change in fair value of derivatives (24)
Share-based compensation 57 114
Deferred income taxes (139) (270)
Changes in operating assets and liabilities:    
Deferred course expenses (925) 514
Prepaid expenses and other receivable (577) 1,109
Inventory 20 (126)
Other assets (161) (8)
Accounts payable-trade 125 (18)
Royalties payable 164 106
Accrued course expenses 1,053 203
Accrued salaries, wages and benefits (54) (607)
Operating lease liability (337)  
Other accrued expenses 1,132 1,627
Deferred revenue 3,200 (1,708)
Net cash provided by (used in) operating activities 3,577 (2,290)
CASH FLOWS FROM INVESTING ACTIVITIES    
Purchases of property and equipment (13) (480)
Proceeds from sales of property and equipment 165  
Net cash provided by (used in) investing activities 152 (480)
CASH FLOWS FROM FINANCING ACTIVITIES    
Principal payments on debt (18) (6)
Proceeds from issuance of debt 395
Net cash provided by (used in) financing activities 377 (6)
Effect of exchange rate differences on cash 275 (39)
Net increase (decrease) in cash and cash equivalents and restricted cash 4,381 (2,815)
Cash and cash equivalents and restricted cash, beginning of period 6,637 8,904
Cash and cash equivalents and restricted cash, end of period 11,018 6,089
Supplemental disclosures:    
Cash paid during the period for interest 75 8
Cash paid during the period for income taxes, net of refunds received $ (120) $ (774)